H2O America completes sale of 7,475,000 equity units tied to 2031 senior notes
On November 3, 2026, H2O America issued and sold 7,475,000 corporate units under an October 29, 2026 underwriting agreement with Wells Fargo Securities and J.P. Morgan Securities as representatives. Each unit combines a stock purchase contract requiring the holder to buy common stock by November 1, 2029 with a 1/20 interest in $1,000 of 5.300% remarketable senior notes due 2031, so the sale may lead to new common shares being issued.
Key points
- 7,475,000 corporate units sold, including 975,000 units from the full exercise of the underwriters' over-allotment option.
- Each unit has a $50 stated amount; the stock purchase contract is due no later than November 1, 2029, for $50 in cash per contract.
- Total annual distributions are 7.750% of the stated amount: 2.450% in contract adjustment payments and 5.300% in note interest.
- The senior notes will be remarketed before the stock purchase contract settlement date, under a remarketing agreement not yet signed as of the filing.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.